Parsons Co. (NYSE:PSN) Stake Boosted by Quantbot Technologies LP

Quantbot Technologies LP raised its position in shares of Parsons Co. (NYSE:PSN) by 33.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,543 shares of the company’s stock after buying an additional 12,784 shares during the quarter. Quantbot Technologies LP’s holdings in Parsons were worth $4,193,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PSN. TFO Wealth Partners LLC boosted its stake in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Parsons during the first quarter valued at $62,000. Psagot Value Holdings Ltd. Israel lifted its stake in Parsons by 700.0% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock worth $70,000 after acquiring an additional 973 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Parsons during the 4th quarter worth about $91,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Parsons during the first quarter valued at approximately $181,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Performance

NYSE:PSN traded down $0.55 during midday trading on Friday, reaching $78.87. The stock had a trading volume of 701,273 shares, compared to its average volume of 871,656. The stock has a market capitalization of $11.57 billion, a P/E ratio of 441.47, a PEG ratio of 2.33 and a beta of 0.81. Parsons Co. has a 1-year low of $46.97 and a 1-year high of $85.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s fifty day simple moving average is $77.87 and its 200-day simple moving average is $75.42.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Parsons had a net margin of 0.49% and a return on equity of 11.27%. On average, equities research analysts forecast that Parsons Co. will post 2.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PSN has been the subject of several recent research reports. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $82.00 to $95.00 in a report on Wednesday, May 1st. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Parsons in a report on Thursday, April 4th. Robert W. Baird increased their price objective on Parsons from $85.00 to $89.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Truist Financial lifted their target price on shares of Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus increased their price target on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $85.50.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.